The Marinetrans India IPO will go on sale on Thursday, November 30, and close on Tuesday, December 5. The price band for the Marinetrans IPO is established at 26. Investors can place bids for as few as 4000 shares and in multiples of that number. The face value of the equity shares is ten dollars, and the issue price is 2.6 times that amount.
Marinetrans is a corporation that handles sea freight. Through unofficial agreements with service providers, the company developed from its beginnings as a products forwarder to provide door-to-door delivery and third-party logistics (3PL) services to the logistics sector. The company provides its clients with a comprehensive range of freight-related and transportation management services, including freight forwarding, which handles both air and sea freight.
The company is headquartered in Navi Mumbai, Maharashtra, with a branch in Ahmedabad, Gujarat. Its primary way of operation for shipping cargo globally is through JNPT, Nhava Sheva, Mundra, Kandla, Chennai, Vizag, and other Indian places.
The company's promoters are Arunkumar Narayan Hegde and Tirah Kumar Babu Kotian. According to Red Herring Prospectus (RHP), the company's listed peers are Cargosol Logistics Ltd (P/E of 8.56), Cargotrans Maritime Ltd (P/E of 12.54), AllCargo Logistics Ltd (P/E of 13.88), and Total Transport Systems Ltd (P/E of 35.66).
Marinetrans India IPO information
According to RHP, the Marinetrans India IPO, which is worth 10.92 crore, is a wholly new offering of 4,200,000 equity shares with no offer for sale (OFS) component.
The money raised will be used to satisfy the company's working capital needs, cover basic business expenses, and pay for issue expenses in order to gain the benefits of being listed on the NSE Emerge Platform.
"Our company believes that listing will improve our company's corporate image, brand name, and create a public market for its equity shares in India, in addition to unlocking our company's value." A stock exchange listing also provides our company with enhanced credibility with the public, since the company is indirectly approved by having their shares listed on the platform. It also boosts supplier, investor, and consumer confidence, as well as our market status," the business stated in its RHP.
Skyline Financial Services Private Ltd is the registrant for the Marinetrans India IPO, while Swaraj Shares and Securities Private Limited is the book running lead manager. The Marinetrans India IPO is being market-maker by Nnm Securities.
Dates for the IPO of Marinetrans India
Marinetrans India IPO allotment basis will be concluded on Friday, December 8, and the company will begin reimbursements on Monday, December 11, while the shares will be paid to allottees' demat accounts on Sunday, December 10. According to chittorgarh.com, the Marinetrans India IPO shares are expected to be launched on the NSE SME on Monday, December 11. If the company decides to transition to the T+3 standard, the dates will be pushed back.
GMP Marinetrans India IPO today
According to topsharebrokers.com, the Marinetrans India IPO GMP today or gray market premium was 0, which means that shares were trading at their issue price of 26 with no premium or discount on the gray market. The term "gray market premium" refers to investors' willingness to pay more than the issue price.
